MENA Seed Stage Program and Early Stage Venture Capital Firms Flat6Labs The first platform bank in the region wio bank Signed a Memorandum of Understanding (MoU) to support start-ups and SMEs in Abu Dhabi.
The agreement between the two organizations includes startups from Flat6Labs’ professional seed program. Flat6Labs Igniteyou can access Wio Bank products and services. wio businessThanks to the partnership, a digital banking application specifically tailored for start-ups and small businesses will be available.
The support from Wio Bank will benefit Flat6Labs, as digital banking applications will make it easier for start-ups to set up their headquarters in Abu Dhabi. This access will enable seed-stage programs to attract startups from international markets.
Along with Wio Business, Wio Bank will make technical experts available as “subject matter experts and mentors” for its startup programs.
Helping Abu Dhabi start-ups and SMEs grow
Ryan SharifGeneral manager of Flat6Labs in the United Arab Emirates, explained the support the deal provides startups. Sharif says: These organizations need banking partners with a start-up spirit. We put agility, flexibility and innovation at our core. “
“Our long-standing expertise in helping start-ups establish themselves in the UAE and raise the capital they need to fuel their ambitions has enabled us to not only provide world-class banking services, but also comprehensive It is perfectly aligned with Wio Bank’s vision of serving as a comprehensive bank management platform for modern SMEs.”
Flat6Labs’ Ignite program aims to support up to 60 startups in Abu Dhabi by 2024. Twenty-seven organizations have successfully invested in his three currently completed cycles.
Platek VaieThe Chief Commercial Officer (CCO) of Wio Bank also explained how the bank intends to help small businesses while benefiting from the contract. Vahie commented: We work hard to ensure our small business customers find the most viable options for the support they need. We support through traditional credit and loans, peer-to-peer lending, angel investments, or incubator funding.
“We can benefit from the insight and expertise of other key players in the ecosystem, such as Flat6Labs, as we develop products tailored for the SME sector.”
Abu Dhabi Development Company (ADQ), Alpha Dhabi Holding, EtisalatWhen First Abu Dhabi Bank (FAB) Jointly owned wio bank.